Please answer and explain this problem.

Shown are selected financial data for Another World and Imports, Inc., at the end of the current year Another Imports, World Inc. Net credit sales Cost of goods sold Cash Accounts receivable (net) Inventory Current liabilities $675,000 $ 560,000 504,e00 48e,e0e 22,900 70,000 160,800 105,000 10e,000 53,000 75,000 84,000 Assume that the year-end balances shown for accounts receivable and for inventory approximate the average balances of these items throughout the year Required a. For each of the two companies 1. Compute the working capital 2. Compute the current ratio. (Round your answers to 1 decimal place.) 3. Compute the quick ratio. (Round your answers to 1 decimal place.) 4. Compute the number of times inventory turned over during the year and the average number of days required to turn over inventory. (Round your answers to the nearest whole number. Use 365 days a year.) 5. Compute the number of times accounts receivable turned over during the year and the average number of days required to collect accounts receivable. (Round your answers to the nearest whole number. Use 365 days a year.) 6. C mpute the perat na cycle. (Round vour intermediate and final answers to whole numbers.)